Tesla (NASDAQ:TSLA) Trading Down 1.8% – Time to Sell?

Tesla, Inc. (NASDAQ:TSLA)’s stock price was down 1.8% during trading on Tuesday . The company traded as low as $386.50 and last traded at $390.10. Approximately 17,278,368 shares traded hands during trading, a decline of 76% from the average daily volume of 72,147,977 shares. The stock had previously closed at $397.15.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. The Goldman Sachs Group raised their target price on Tesla from $250.00 to $345.00 and gave the company a “neutral” rating in a report on Wednesday, December 11th. Roth Mkm upgraded Tesla from a “neutral” rating to a “buy” rating and increased their price objective for the company from $85.00 to $380.00 in a research note on Monday, December 2nd. Phillip Securities cut Tesla from a “moderate sell” rating to a “strong sell” rating in a research note on Wednesday, November 13th. Guggenheim raised their target price on shares of Tesla from $156.00 to $175.00 and gave the company a “sell” rating in a report on Thursday, December 5th. Finally, Cantor Fitzgerald boosted their price target on shares of Tesla from $255.00 to $365.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. Eight research analysts have rated the stock with a sell rating, fourteen have given a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $313.84.

Tesla Price Performance

The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37. The stock has a market cap of $1.28 trillion, a price-to-earnings ratio of 109.13, a PEG ratio of 8.42 and a beta of 2.30. The company’s 50 day moving average is $399.99 and its 200 day moving average is $295.57.

Insider Buying and Selling

In other Tesla news, Director Robyn M. Denholm sold 112,390 shares of Tesla stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $314.44, for a total transaction of $35,339,911.60. Following the completion of the transaction, the director now owns 85,000 shares in the company, valued at approximately $26,727,400. The trade was a 56.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Vaibhav Taneja sold 4,000 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $251.76, for a total transaction of $1,007,040.00. Following the transaction, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at approximately $26,442,856.32. This trade represents a 3.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 617,886 shares of company stock worth $212,451,751 in the last quarter. Company insiders own 20.70% of the company’s stock.

Hedge Funds Weigh In On Tesla

Several hedge funds have recently bought and sold shares of TSLA. Hengehold Capital Management LLC lifted its stake in shares of Tesla by 1.8% during the fourth quarter. Hengehold Capital Management LLC now owns 1,347 shares of the electric vehicle producer’s stock valued at $544,000 after buying an additional 24 shares during the period. Strategic Investment Advisors MI increased its position in Tesla by 0.3% during the fourth quarter. Strategic Investment Advisors MI now owns 6,990 shares of the electric vehicle producer’s stock worth $2,823,000 after purchasing an additional 24 shares during the last quarter. Acropolis Investment Management LLC raised its stake in Tesla by 0.9% during the fourth quarter. Acropolis Investment Management LLC now owns 2,814 shares of the electric vehicle producer’s stock worth $1,136,000 after purchasing an additional 25 shares during the period. Mount Vernon Associates Inc. MD grew its stake in shares of Tesla by 0.3% during the 4th quarter. Mount Vernon Associates Inc. MD now owns 7,305 shares of the electric vehicle producer’s stock valued at $2,950,000 after buying an additional 25 shares during the period. Finally, Prospect Financial Services LLC increased its holdings in shares of Tesla by 0.3% during the 4th quarter. Prospect Financial Services LLC now owns 7,500 shares of the electric vehicle producer’s stock worth $3,029,000 after buying an additional 26 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

About Tesla

Tesla, Inc designs, develops, manufactures, leases, and sells electric vehicles, and energy generation and storage systems in the United States, China, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers electric vehicles, as well as sells automotive regulatory credits; and non-warranty after-sales vehicle, used vehicles, body shop and parts, supercharging, retail merchandise, and vehicle insurance services.